Unlicensed adviser sentenced
NSW financial adviser Keith Rowntree has been disqualified from managing corporations for five years and will undertake 80 hours of community service after being convicted on charges relating to the collapse of Perth-based investment company Westpoint.
Mr Rowntree was last week convicted and sentenced by the NSW District Court after pleading guilty on December 2 to a charge of providing financial advice without holding an Australian financial services licence.
Between July and December 2003 Mr Rowntree was a director of Solutions One Finance Group in North Sydney. His advice led clients to invest in Westpoint products, before that company collapsed in a $320 million bust in 2005.
Mr Rowntree was last week convicted and sentenced by the NSW District Court after pleading guilty on December 2 to a charge of providing financial advice without holding an Australian financial services licence.
Between July and December 2003 Mr Rowntree was a director of Solutions One Finance Group in North Sydney. His advice led clients to invest in Westpoint products, before that company collapsed in a $320 million bust in 2005.